Humancoin ICO – Set To Herald A New Era For Charity

Humancoin Blockchain has been developed to provide a common platform for humanitarians and charity organizations. The network will provide direct linkages between the two parties. Additionally, the transfer of donations will be quick, secure and verifiable.

The Problem

In the past, the philanthropists have been grappling with issues of establishing an instantaneous and verifiable mode of donations transfer. This is because the conventional modes are slow and marred by lengthy bureaucratic processes. This is despite the fact that aid is life supporting and needed in urgency. Additionally, some corrupt individuals could embezzle the donations and put the lives of the most afflicted people on earth on the line.

Humancoin is seeking to address these shortcomings and ensure that philanthropists can directly transfer online cash to support aid programs whenever need be. Afterward, the Blockchain network of ledgers can be available for them to monitor the aid expenditure just to be sure that the funds have been utilized for the intended purpose.

Benefits of Humancoin:

The Blockchain Model

The Humancoin platform will feature the donors, charity organizations, and e-commerce platforms.

The donors will have to register on the platform and then search through the profiles of organizations for the appropriate course to fund. Afterward, there will be an aid transfer on fiat currency as per the request of the organization. The humanitarian will then be awarded tokens, which are redeemable on the e-commerce platform.

On the other hand, the charity organizations have to register on the Humancoin platform. The sign-up process is detailed and vigorous to eliminate the likelihood of fraudsters. For instance, the charity institutions have to provide various proof of incorporations, certification, accreditation, etc.

Additionally, Humancoin has made it easier for humanitarians. Occasionally, selecting an organization to fund can be hectic and tedious. The Humanpool option will entail, depositing of funds, selecting a course to fund and allowing Humancoin to allocate the aid as per the preference and instructions.

The smart contract feature will allow the users of the Blockchain to trace allocations for a given time, monitor the utilization of the funds, and also learn more about the humanitarian organization. This feature is anchored on the following proofs:

• Proof of work
• Proof of stake
• Proof of charity

The proof of work entails recording of the cash transfers in the P2P relationships. The proof of stake is the verifiable and transparent recording of events and also the unique identifier encryptions for all the parties. Finally, the proof of charity entails awarding tokens to donations. Therefore, the tokens act as the symbol that an aid has been issued.

Conclusion

Humancoin will tap into the huge charity and e-commerce markets. The proof of charity will make the donations to be fun and therefore encourage more contributions. This will go a long way in availing aid to people in need regardless of their physical locations. Lastly, the e-commerce sector will give value to the HUMA tokens, as they will be worth using as a unit of exchange.